ABC News analysis on the American middle class
ABC News has a special report this week on America’s Middle Class and Economic Concerns.
The on-line content that compliments the ABC World News with Diane Sawyer reports includes these details:
Average incomes for people who call themselves middle class are about $55,000 a year, versus about $35,000 for those who call themselves working class or lower and about $95,000 for those who say they’re upper-middle class or better off. …
There’s of course another way to look at the middle-class, not by self-definition but by income groups. For purposes of the analysis that follows we’ve defined middle class as the 41 percent of Americans with household incomes from $35,000 to $100,000 a year.
This is a good topic for in-depth analysis, but $35,000 to $100,000 a year is a pretty big swing in lifestyles.
The lower end includes families who are eligible for reduced-price school lunches and Earned Income Credit. The higher end includes families who, according to the 28% formula, could afford mortgage payments of $2,000.
Posted: March 15th, 2010 under Financial crisis / recession, In the News.
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